The Treasury Department said Wednesday it will raise $3.997 billion of new cash at its weekly auction of 91-day and 182-day discount bills today by selling $42 billion to refund $38.003 billion in maturing securities. To be sold are $22 billion of 91s, dated Nov. 29 and due Feb. 28, 2008, and $20 billion of 182s, dated Nov. 29 and due May 29, 2008.
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Democratic Gov. Laura Kelly nixed another tax cut bill passed by the Republican-led legislature this year, while pushing a less-costly plan.
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It's a big week for the Fortress-backed train company, which refinanced more than $4 billion of debt and broke ground on its West Coast high-speed line.
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Photos from The Bond Buyer's Texas Public Finance conference.
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The Mayo Clinic is undertaking a $5 billion expansion that may bring new debt as it reconstructs its core Rochester, Minnesota campus.
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"Just like the ATM became an additional transaction channel in the banking industry, I believe distributed ledger technology will provide municipal issuers with a similarly valued tool to sell their bonds," said Rick Coscia, Quincy's Strategic Asset Manager.
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"Each party in this deal benefits in some way," said Seema Mohanty, founder of Mohanty Gargiulo.
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